Procter & Gamble Company (The) (NYSE:PG) Shares Sold by Burgundy Asset Management Ltd.

Key Points

• Burgundy Asset Management Ltd. reduced its stake in Procter & Gamble by 17.3% in the first quarter, holding 544,197 shares valued at approximately $92.7 million after selling 114,117 shares.
• Several large investors have recently moved their positions in Procter & Gamble, with Nuveen LLC making a significant new investment worth nearly $1.95 billion in the company.
• The company announced a quarterly dividend of $1.0568 per share, yielding 2.7%, and its dividend payout ratio stands at 64.98% as of the latest report.

Burgundy Asset Management Ltd. lowered its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 17.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 544,197 shares of the company's stock after selling 114,117 shares during the period. Burgundy Asset Management Ltd.'s holdings in Procter & Gamble were worth $92,742,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PG. Nuveen LLC purchased a new position in Procter & Gamble during the 1st quarter worth $1,954,941,000. GAMMA Investing LLC raised its position in Procter & Gamble by 20,758.5% during the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after buying an additional 7,913,335 shares during the last quarter. Capital Research Global Investors raised its position in Procter & Gamble by 62.5% during the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock worth $1,240,294,000 after buying an additional 2,846,560 shares during the last quarter. Northern Trust Corp raised its position in Procter & Gamble by 10.1% during the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after buying an additional 2,703,757 shares during the last quarter. Finally, Invesco Ltd. raised its position in Procter & Gamble by 19.8% during the 1st quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock worth $2,299,580,000 after buying an additional 2,228,151 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PG shares. Erste Group Bank downgraded shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Evercore ISI reiterated an "in-line" rating and issued a $170.00 price target (down previously from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. Barclays set a $164.00 price target on shares of Procter & Gamble and gave the company an "equal weight" rating in a report on Thursday, July 31st. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Piper Sandler raised their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $175.94.

Procter & Gamble Trading Up 0.4%

NYSE PG opened at $154.30 on Friday. The firm has a market capitalization of $361.43 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 4.07 and a beta of 0.37. The company's 50 day moving average price is $157.19 and its 200 day moving average price is $163.27. Procter & Gamble Company has a one year low of $149.91 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The company had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were given a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is 64.98%.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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